Suncoke Energy, Inc. · NYSE:SXC
Suncoke Energy — Q1 2025 Earnings Presentation
18 slides from Suncoke Energy's earnings presentation, Apr 30, 2025
Slide 1: SunCoke Energy, Inc. Q1 2025 Earnings Conference Call
SunCoke Energy, Inc. Q1 2025 Earnings Conference Call
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 This presentation should be reviewed in conjunction with the first quarter 2025 earnings release of SunCoke Energy, Inc. (SunCoke) and conference call held on April 30, 2025 at 11:00 a.m. ET. This presentation contains “forward-looking statements” (as defined in Section
Slide 3: Q1 2025 Highlights
Q1 2025 Highlights 3 ✓ Delivered Q1 '25 Consolidated Adjusted EBITDA(1) of $59.8M ✓ Extended Granite City cokemaking contract with U.S. Steel through September 30, 2025 ✓ Declared cash dividend of $0.12 per share, payable on June 2, 2025 ✓ Essentially all spot blast and foundry coke sales finalized
Slide 4: Q1 2025 Financial Performance
Q1 2025 Financial Performance 4 Q1 2025 Earnings Review • Q1 '25 EPS of $0.20, down $0.03 compared ($/share) ($ in millions) to the prior year quarter (1) Diluted EPS Adjusted EBITDA • Consolidated Adjusted EBITDA(1) of $59.8M, -$8.1M -$0.03 down $8.1M from the prior year quarter ▪ Coke segment down
Slide 5: Domestic Coke Business Summary
Domestic Coke Business Summary 5 Domestic Coke performance impacted by lower Granite City contract economics and lower spot blast coke sales volumes Domestic Coke Performance • Delivered Adjusted EBITDA of (Coke Production, Kt) $49.9M in Q1 ‘25 vs $61.4M in $61.4M $57.9M $58.1M $57.3M Q1 ‘24 $49.9M
Slide 6: Logistics Business Summary
Logistics Business Summary 6 Higher volumes driving CMT performance Logistics Performance • Logistics segment contributed (Tons Handled, Kt) $13.7M to Q1 ‘25 Adjusted EBITDA $13.0M $12.2M $13.7M $13.7M vs $13.0M in Q1 ‘24 $11.5M ▪ Higher volumes at CMT, partially offset by absence of index price adj
Slide 7: Q1 2025 Liquidity
Q1 2025 Liquidity 7 Maintained strong liquidity position of $543.7M (Consolidated) Q1 '25 Revolver Total Debt $500M Availability: Gross Leverage(1) 1.89x $350M Net Leverage (1) 1.15x ($ in millions) ($4.9) $25.8 ($10.9) $193.7 $189.6 ($5.9) Dividend of $0.12 per share Cash @ Q4 2024 Net Cash Provide
Slide 8: 2025 Key Initiatives
2025 Key Initiatives 8 Continued Safety and Environmental Excellence • Continue to deliver strong safety and environmental performance Deliver Operational Excellence and Optimize Asset Utilization • Successfully execute on operational and capital plan • Continue to provide reliable, high-quality pro
Slide 9: Appendix
APPENDIX )
Slide 10: Non-GAAP Financial Measures Definitions
10 NON-GAAP FINANCIAL MEASURES In order to assist readers in understanding the core operating results that our management uses to evaluate the business, we describe our non-GAAP measures referenced in this presentation below. In addition to U.S. GAAP measures, this presentation contains certain non-
Slide 11: 2025 Guidance Summary
2025 Guidance Summary 11 Expect 2025 Consolidated Adjusted EBITDA(1) of $210M - $225M; 2025 Free Cash Flow(2) of $100M - $115M 2025 Metric Guidance* Adjusted EBITDA Consolidated (1) $210M - $225M Domestic Coke EBITDA $185M - $192M Logistics EBITDA $45M - $50M Domestic Coke Sales ~4.0M tons Domestic
Slide 12: Coke Facility Capacity and Contract Duration/Volume
Coke Facility Capacity and Contract Duration/Volume 12 (1) Contract Contract Facility Capacity Customer Expiry Volume Indiana Harbor 1,220 Kt Cliffs Steel Sep. 2035 Capacity Middletown 550 Kt (2) Cliffs Steel Dec. 2032 Capacity Haverhill II 550 Kt Cliffs Steel Jun. 2025 Capacity (3) Granite City 650
Slide 13: Balance Sheet & Debt Metrics
Balance Sheet & Debt Metrics 13 As of 3/31/2025 As of 12/31/2024 ($ in millions) Cash $ 194 $ 190 Available Revolver Capacity $ 350 $ 350 Total Liquidity $ 544 $ 540 Gross Debt (Long and Short-term) $ 500 $ 500 Net Debt (Total Debt less Cash) $ 306 $ 310 LTM Adjusted EBITDA $ 265 $ 273 Gross Debt /
Slide 14: 2025 Guidance Reconciliation
2025 Guidance Reconciliation 14 ($ in millions) Low High Net Income $52 $69 Depreciation and amortization expense 121 117 Interest expense, net 26 24 Income tax expense 11 15 Adjusted EBITDA (Consolidated) $210 $225 Free Cash Flow Guidance Reconciliation 2025E ($ in millions) Low High Operating Cash
Slide 15: Net Income to FCF Reconciliation
Net Income to FCF Reconciliation 15 2025E ($ in millions) Low End High End Net Income $52 $69 Depreciation and amortization expense 121 117 Interest expense, net 26 24 Income tax expense 11 15 Adjusted EBITDA (Consolidated) $210 $225 Cash interest, net (23) (21) Cash taxes (17) (21) Total capex (65)
Slide 16: Reconciliation to Adjusted EBITDA
16 Reconciliation to Adjusted EBITDA ($ in millions) Q1 '24 Q2 '24 Q3 '24 Q4 '24 FY '24 Q1 '25 Net Income $ 21.1 $ 23.3 $ 33.3 $ 25.8 $ 103.5 $ 19.4 Depreciation and amortization expense 33.3 28.7 28.1 28.8 118.9 28.8 Interest expense, net 6.3 5.8 5.7 5.6 23.4 5.2 Income tax expense 7.1 5.6 8.2 4.1
Slide 17: Adjusted EBITDA and Adjusted EBITDA per ton
Adjusted EBITDA and Adjusted EBITDA per ton 17 Reconciliation of Segment Adjusted EBITDA and Adjusted EBITDA per Ton Domestic Corporate Brazil Coke Logistics Consolidated ($ in millions, except per ton data) Coke and Other(1) Q1 2025 Adjusted EBITDA $49.9 $2.3 $13.7 ($6.1) $59.8 Sales Volume (thousa
Slide 18: SunCoke Energy
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